The cohort default rate is calculated using actual payment records of the student borrower. A 3-year cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year. Repayment begins 6 months after a student is no longer enrolled for at least 6 credit hours. Default occurs when a student is in repayment, but fails to make their payment for 270 days or more. Data from the most recent years is provided below. The numbers below represent the 3-year cohort default rate.